Indian Cosmetic Industry


Cosmetic Industry INDIAN COSMETIC INDUSTRY AT A GLANCE IN 2015 - 2016 Cosmetic Industry

India's retail beauty and cosmetics industry, currently estimated at $950 million, is likely to almost treble to $2.68 billion by 2020, according to industry experts. Annual growth in the Indian beauty and cosmetics markets is estimated to remain in the range of 15-20 per cent in the coming years, twice as fast as that of the US and European markets.

Although the beauty and personal care market continued to register good growth in 2015-2016 due to improving economic conditions and falling inflation, growth was lower than the previous financial year due to sluggish consumer expenditure on demand for mass products, which account for the majority beauty and personal care products sales. However, within premium product categories, demand remains high and consumers in urban consumers with higher disposable incomes are trading up to more expensive brands.

Indian Cosmetics Industry in 2015-2016
The demand for natural, herbal products was on the rise in 2015 due to strong promotional campaigns by the concerned companies. In 2015-206 , Indian beauty and personal care sales continued to be dominated by international players such as Hindustan Unilever, Colgate-Palmolive India, Reckitt Benckiser and Gillette India. Domestic players such as Dabur India, Godrej Consumer Products and Patanjali Ayurved appealed to regional needs and trends among Indian consumers by launching new products during 2015 and managed to perform well.

The beauty and personal care market also called the cosmetic Industry in India has huge growth potential as a large number of products still have only limited penetration in the country. Rising disposable incomes, increasing product penetration, the growth of modern retailers, increasing awareness of beauty and personal care products, the rising aspirations of consumers, and strong economic growth would be driving the growth of the Indian cosmetic industry to new levels in the years to come.

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